Mortgages

The interest rate on an American home mortgage later this year could depend a lot on how many euros, yen, pesos and rupees a dollar will fetch. The dollar's steep ascent against many of the world's currencies since last summer could help delay the first Federal Reserve rate hike since 2006. In turn, that could affect mortgage and other long-term rates. Historically, the Fed officially hasn't paid much attention to the dollar's swings, honoring a separation of powers that goes back to the central bank's creation: The Fed is responsible for monetary policy, while decisions about the dollar are the U.S. Treasury Department's domain. But under Chairwoman Janet...

Related "Mortgages" Articles

Hampton-based Old Point National Bank, like community banks across the country, saw increases in lending and net interest income in 2014 over 2013.
"We had a pretty good 2014," Old Point National Bank President and CEO Louis Morris said.
Old...

Newport News-based BayPort Credit Union is continuing to grow with mergers, more members and new services, the board chairman told shareholders Wednesday night.
"We continue to expand," Board Chairwoman Suzanne M. Beckstoffer said at the 87th...

YORK — Former Virginia Port Authority chairman and businessman Jeffrey D. Wassmer announced Monday that he will run for the District 4 Board of Supervisors seat. Incumbent George S. Hrichak said on Tuesday that he is not seeking re-election because he...

HAMPTON — Retired Staff Sgt. Dominic Perrotte, wife Kayla and their 2-year-old son walked through their new home for the first time Friday.
The two-story house has three bedrooms — room to grow their family was important, Kayla Perrotte said — a...

Bank of America plans to lay off 202 employees in a loan servicing unit in Norfolk by March 29 because of the continuing decline in the number of delinquent mortgages, the company confirmed Tuesday.
Notice of the Bank of America layoff appeared on the...

The Chesapeake-headquartered Tidewater Mortgage Bankers Association recently installed its 2015 board of directors.
The association's members originate, fund and service mortgages secured by residential real estate both on the Peninsula and in South...

With a seat of honor in the Rose Parade and keys to a mortgage-free home, 2015 is already a shaping up as a decent year for Dominic Perrotte.
And he can reflect on his good fortune in Hampton, because that’s where his new home will be.
Perrotte is a...

Fannie Mae and Freddie Mac are close to allowing consumers to buy a home with as little as a 3 percent down payment and still have the mortgages backed by the two agencies.
More details are expected to be announced in coming weeks, but the move from a...

Check out the list of the this year's board members for the Virginia Mortgage Lenders Association.The VMLA announced the board of directors at its annual convention on Oct. 1-2 in Portsmouth, according to a news release.
They are:
Boyd Allison Jr....

National retail mortgage lender Guaranteed Rate opened an office at 716 Rountree Crescent in Suffolk.
The 14-year-old Chicago-based Guaranteed Rate has 175 offices nationwide, including three in Virginia, according to a news release. Last year, the...

Langley Federal Credit Union added several staff members, including a new real estate loan officer.
John Burford was named as a loan officer after working as a senior mortgage loan officer at Fulton Mortgage Co. in Williamsburg, according to a news...

RICHMOND — Attorney General Mark Herring has dropped two of 13 banks from a lawsuit he is perusing related to the mortgage crisis, saying he discovered that the state had already settled with them both.
The rest of the case, against big banks that...

Virginia has filed a lawsuit against many of the world's largest banks, arguing that they defrauded state employees, retirees and taxpayers out of hundreds of millions of dollars by lying about mortgage-backed securities that contributed to the recent...

HAMPTON — Senior citizens plan to picket Mayor George Wallace's state of the city address Sept. 3 because of action the City Council took this past spring that revokes a property exemption provided for elderly residents.
Celestine Monroe said senior...

Monarch Bank, the second-largest community bank in Hampton Roads by deposits, plans to expand with a Peninsula headquarters next to the Whole Foods under construction at the Tech Center at Oyster Point.
"We have a lot of clients on the...

While Chesapeake-based Monarch Bank has mortgage offices in Richmond, it is now adding commercial real estate lending to the area, Inside Business reports.
Monarch hired Andy Proctor, owner of Atlantic Mortgage and Investment Co., to conduct the...

As a result of the recent housing crisis, many potential homebuyers, especially first-timers, are hesitant to enter the market. But if you're holding back, evaluate why. Experts say your reasons may be based on myth.
"Buying a home is more...

Tammy Gelles returned to Langley Federal Credit Union as vice president of real estate lending.
Gelles will lead the real estate lending team and is responsible for the origination, processing, closing and servicing of first and second mortgages,...

Now we know why state Sen. Henry Marsh and Del. Algie Howell resigned early from the General Assembly. Gov. Terry McAuliffe tapped them both today for jobs in his administration.
McAuliffe named Marsh one of three commissioners to the state's Alcoholic...